Frequently Asked Questions

What is Factoring?

Factoring is a financing tool that provides your company with capital. Factoring is not a business loan. Factoring is selling your freight invoices at a discount for immediate cash. We wait to get paid, while you get immediate funds.

What is the difference between "non recourse" and "recourse" factoring?

When an invoice is purchased by us on a non-recourse basis we take the credit risk. If the customer does not pay an invoice because of a credit problem, Trucking Partners will take the loss. When an invoice is purchased under a recourse arrangement the carrier is responsible for repayment of an invoice if a customer does not pay the invoice.

How long do I have to be in business?

Trucking Partners does not have a requirement regarding the length of time you have been in business. We work with brand new companies every day.

Is there a sign up fee to factor with Trucking Partners Financial?

Trucking Partners does not charge any fee for signing up to use our services.

Does my credit score affect my ability to factor?

We expect payment from your customers. We do not have credit standards that you must meet.

How long does it take to get my application processed?

We can usually have you signed up within in 24 hours.

Do I have to factor all my Accounts Receivable?

No, you can choose which companies to factor and which companies not to factor.

What do I need to send to factor my invoices?

We need a copy of the rate confirmation, a signed bill of lading, and all other load documents such as scale tickets, lumper receipts, etc. We will prepare the invoice, bill the customer, and send your money.

How long does it take to get paid?

Unless there is a problem with the load, it will be verified and paid the day Trucking Partners receives the paperwork.

How is the money sent to me?

We can pay you via check, wire transfer, ACH (direct deposit), or Comchek funding.

Do you have additional questions about freight invoice factoring?

Please call us at 256-737-8788 and we will be happy to discuss any questions you have about factoring or the programs at Trucking Partners.

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ADDRESS

1718 Second Avenue NW
Suite B
Cullman, AL  35055

PHONE/EMAIL

Phone:  256-737-8788
Fax:  256-737-8789

BUSINESS HOURS

Monday – Friday
8:00 AM – 5:00 PM
Central Time

© Trucking Partners, LLC. All Rights Reserved.